NJ Plans To Recover Lost Sports Betting Revenue

Rich Migliorisi, Last Updated: November 30th, 2020 NJ Online Casinos
NJ Plans To Recover Lost Sports Betting Revenue

States across the country have been frantic in the past few weeks since the US Supreme court effectively legalized sports betting. Lethargic lawmakers have received a metaphorical crack of the whip to get their legislation in order, so that bets can be placed by an eager local gaming community.

New Jersey is feverishly trying to get their legal draft in order for a proposed bill to be passed on 7th June, under pressure from casino sand horse tracks; while Delaware claims to be ready to roll at any moment.

Meanwhile NJ State Senate President, Stephen Sweeney has threatened the major sports leagues for lost tax revenue and legal fees; this goes all the way back to 2011 when the Professional and Amateur Sports Protection Act was passed. The state is estimated to have incurred a whopping $8 million in legal fees to fight the legislation to date - and that’s before calculating the loss in tax revenue.

“There is potential for the state of New Jersey to recover some real funds” Sweeney is quoted as saying. Governor Phil Murphy and Craig Coughlin, however, have not made their position known on this matter. Euphemistically, Sweeney said further that “We hold our strongest hand when the legislature and the governor and the administration goes together” In agreement with Sweeney’s position is the New Jersey Thoroughbred Horsemen’s Association, which seeks $100 million in lost revenue since 2014. They are in the process of lawsuit preparations.

Dennis Drazin, the operator of Monmouth Park believes that the leagues “acted in bad faith” benefitting Nevada and Las Vegas, in what he says, appears retrospectively to be a hypocritical move.

The sports leagues on their side, started lobbying the states to include an integrity fee in anticipation of the Supreme Court’s ruling. This idea received mixed responses – with the exception of New Jersey where Sweeney replied to the request with a characteristically clear “Absolutely not” pointing out that they never received an integrity fee from Las Vegas.

Meanwhile, Roger Goodell the NFL commissioner, has supported federal sports betting legislation stating that both he and his predecessor’s highest concern has been protecting the integrity of their sport. Sweeney rubbished this claim saying that this position is merely about profiteering and not about integrity of the sport.

The matter of an integrity fee has been highly controversial with arguments that it’s unnecessary in an environment of legalized sports betting.

Given that it is only the second week since the ruling was made by the Supreme Court, we are sure to see some interesting developments in terms of proposed lawsuits, and in terms of forth coming legislation. Watch this space for updates!

Profile Pic.
About
Rich Migliorisi

Rich is the Managing Editor at BonusSeeker.com. He started his career as a video editor and poker player but decided to also pursue sports writing. In 2013, Rich was nominated by the Fantasy Sports Writers Association for Fantasy Baseball Writer of the Year. He worked at MLB Advanced Media as a Senior Site Manager for MLB.com and NHL.com before joining BonusSeeker.

MLB, NHL, The Fantasy Fix, Video Editor, Poker Player

Latest News
Week 12 NFL Parlay Picks - Best NFL Parlays Bets

We've officially reached the holiday season and Thanksgiving...

SPORTS PICKS AND PREDICTIONS
Super Bowl LV Predictions | NFL Betting Picks For Tampa In February

As the end of November nears, we are quickly approaching the...

SPORTS PICKS AND PREDICTIONS
Week 11 NFL Parlay Picks - Best NFL Parlays Bets

The upcoming NFL schedule is packed with another 12 games th...

SPORTS PICKS AND PREDICTIONS
Featured In
Business Insider
MarketWatch
Reuters
Yahoo! Finance
BonusSeeker.com and all content herein is intended for audiences 21 and older. BonusSeeker.com publishes news, information, and reviews about regulated online gambling operators, including, but not limited to casino, lottery, poker, and sports betting. You may see paid advertisements for online casinos, poker sites, and sportsbooks (including DraftKings, FanDuel, and others). You must be 21 years or older, and a US citizen to register at gambling sites in New Jersey, Pennsylvania, and other states. The information provided on BonusSeeker.com does not constitute advice, and we reserve that there is no way improve your chances of winning in online gambling. Always gamble responsibly. If you should require any advice for gambling-related problems, please call 1-800-GAMBLER.

© Copyright 2020 - All Rights Reserved. Privacy Policy - XML Sitemap. Catena Media US, Inc. 251 Little Falls Drive Wilmington, DE 19808